IRS Tax Examinations & Hot Issues Webcast [EXI4]

Nov 16, 2022
Time: 11:00am-2:30pm

Subject:

Taxation

Credit Hours:

4.00

Price:

Member: $160.00
Non-member: $240.00

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Discussion Leader: Deborarh A. Phillips

Website registration for this course closes on November 15, 2022. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

IRS Tax Examinations & Hot Issues Webcast (EXI4)

November 16th, 2022 / 11:00 am 2:30 pm Alaska Time

Overview:
Due to IRS issue focused examinations, CPAs need to understand what types of returns are selected for examination and ways to help clients survive an IRS audit with little or no change. As a result of issue focused examinations, CPAs must understand what the high audit risk area issues are and what the IRS is focusing on when a return is examined. In addition, because tax-related identity theft is a common issue for many taxpayers, it is critical for CPAs to understand the procedures necessary to resolve this matter for their clients.

Major Topics:
- Criteria that the IRS uses to select returns for examination
- Vehicles, meals, virtual currency, and fringe benefit considerations
- Worker classification determinations on who is an employee and who is an independent contractor
- S corporation officers reasonable compensation issues
- Responsibilities to pay the employment taxes when the business defaults
- Tax-related identity theft procedures

Learning Objectives:
- Understand the IRS process for selecting returns for examination
- Identify the types of returns the IRS is examining
- Understand the hot examination issues that the IRS is focusing on to help clients reduce their exposure to additional tax assessments
- Determine if your client is a victim of tax-related identity theft and the procedures to use to resolve strategies for dealing with IRS examiners and presenting your clients tax positions in the best light possible

Designed For: CPAs in public practice who prepare tax returns and represent their clients on IRS examinations

CPE Credits: 4, Taxation

Level of Knowledge: Intermediate

Prerequisite: Experience in preparing individual and business tax returns

Acronym: EXI4

Discussion Leader: Deborah A. Phillips